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Understand how crypto Staking on Zenit World works and how users can earn rewards by participating in the network's consensus mechanism.
ZEN holders on Zenit can choose to stake their tokens to obtain sZEN, non-transferable tokens. The amount of sZEN received is proportional to the lockup period, with longer lockup periods resulting in more sZEN tokens received. The amount of sZEN held determines one's share of staking rewards and account tier, with rewards being redistributed on a monthly basis. Monthly rewards are accumulated through the Zenit Platform Fee, the Incentive Program, and one's account tier. Staking on Zenit provides users with the opportunity to earn rewards and access exclusive benefits and lower fees.
Staking on Zenit involves locking ZEN tokens in the Staking Protocol for a pre-defined time period. On staking, users receive non-transferable sZEN tokens, with the balance depending on the amount of ZEN tokens locked and the chosen lockup period. Users can choose to lock their tokens for a minimum of 30 days and a maximum of 4 years. A higher lockup period results in a higher sZEN balance for the same amount of ZEN staked. Once the lockup period expires, users can withdraw their assets immediately, but they will no longer receive rewards post-expiry. Overall, staking lock and withdraw is a valuable feature on Zenit that enables users to earn rewards for their investment in ZEN tokens.
Staking rewards on Zenit are distributed on a monthly basis, with rewards being accumulated and distributed at the end of each month. The total staking reward available for distribution is based on the Zenit Platform fee income collected and the daily distribution rate of the ZEN staking incentives for that month. Users' share of staking rewards is calculated based on their sZEN balance relative to the total sZEN supply at the start of the month. Rewards can be claimed by users from the following month onwards. Users can also stake their ZEN rewards to increase their sZEN balance and future rewards. The staking rewards cycle is a continuous four-step process that repeats every month until expiry. Overall, staking rewards provide users with a valuable way to earn rewards on their investment in ZEN tokens on the Zenit platform.